The deal has been in the works ever since Google acquired the company earlier this year for $12.4 billion to take advantage of their patents and smartphone business.
Arris Group has purchased the business in a cash-and-stock deal. The company is a provider of high-speed Internet equipment.
Google has openly admitted its purchase of Motorola was mainly thanks to the company's extensive 17,000-strong mobile patent library.
While being outside of Google's realm, the set-top box business also proved to be a liability as TiVo is seeking billions in a patent lawsuit that is currently ongoing.
The deal was finally approved after Google said it would foot most of the bill if TiVo were to win. TiVo has already won over $1 billion from Verizon, Dish and others for similar lawsuits implying the final settlement could be in the $300-$500 million range.
Written by: Andre Yoskowitz @ 20 Dec 2012 0:26
